Ten Federal Buys Mountaineer Village Near Brookshire Park for $32.5 Million

Published Thursday, January 28, 2016 at 11:43 am

By Jesse Wood

The Mountaineer Village, a student-housing development on 31 acres off of Yosef Drive near Brookshire Park, sold for $32.5 million on Jan. 27, according records with the Watauga County Register of Deeds.

Mountaineer Village, LLC sold the property to MV at Boone, LLC, which is owned by Brad and Cliff Minsley, founders of 10 Federal, which also manages Village of Meadowview Apartments and Studio West Apartments in Boone.

In addition to operating 192 apartments consisting of 576 bedrooms in Boone, 10 Federal also manages apartments in Graham, Mebane, Hillsborough, Fayetteville and Burlington, a warehouse in downtown Raleigh and self storage in Durham, according to the 10 Federal website.

Mountaineer Village, LLC was formed in 2002 and MV at Boone LLC was formed last November.

According to the deeds recording, the transaction included $57,000 in taxes.

The property has been on the market for at least more than one year, according to listing website, www.loopnet.com.